Definition
Intestate
Dying without a valid will, leaving asset distribution to state default rules. These defaults typically favor a spouse and children, and almost never match what someone actually wanted.
From the episode “Fix the Thing 70% of Americans Are Ignoring”Hear it on the podcast1 episode
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Related terms in Finance & Markets
IDIQ (Indefinitely Delivered, Indefinitely Quantity)A type of contract that provides for an indefinite quantity of supplies or services during a fixed period. Shield and Golden Dome referenced in this episode are examples.Illiquidity PremiumThe excess return investors earn for holding assets that cannot be easily converted to cash. Alternative investments — real estate, private equity, fine art, venture capital — offer illiquidity premiums over public market equivalents precisely because most investors cannot tolerate being locked up. The flip side: if you are forced to exit an illiquid position early (due to an unexpected cash need), you may have to accept a 70–80% loss on principal. CJ Follini identifies illiquidity as the #1 structural barrier keeping individual investors out of alternatives, and argues it is fundamentally a planning and budgeting problem — not an investment knowledge problem.IndemnityThe contractual promise that if a licensed use is disputed, the platform carries the liability rather than the buyer.Index fundA passive fund tracking a market benchmark like the S&P 500.Invoice factoringSelling the invoice itself to a lender, who collects payment directly.Invoice financeBorrowing against money your customers already owe you.IRA Apprenticeship RequirementA provision of the Inflation Reduction Act requiring that contractors on qualifying renewable energy projects (solar, battery storage, data centers) must have 15% of total labor hours performed by registered apprentices in order to receive the full 5x clean energy tax credit. The first federal law in US history to mandate apprenticeship use. Creates non-discretionary demand for registered apprenticeship infrastructure among non-union construction contractors.ISO endorsementStandardized policy language from Insurance Services Office that most US carriers attach to commercial policies. CG 40 47, CG 40 48, and CG 35 08 are the AI exclusions.